Newsletter Archives - Page 20 of 247 - LexisNexis Middle East

UAE: Ministry Announces Exemptions Under the Unemployment Insurance Scheme

20/06/202520/06/2025
by Hannah Gutang

Gulf Today, 16 June 2025: The Ministry of Human Resources and Emiratisation (MoHRE) confirmed specific categories exempt from participation in the UAE’s Unemployment Insurance Scheme (UIS).

These include investors actively engaged in their registered businesses, domestic workers, temporary contract workers, minors below 18 years of age, and pensioners who are re-employed while drawing a pension.

Launched to provide compensation for unemployed individuals, the UIS requires remaining eligible participants to fulfil four key conditions: maintaining a minimum uninterrupted subscription period of 12 months, ensuring termination is not due to disciplinary reasons as per Federal Decree-Law No. 33/2021, preventing fraudulent claims or fictitious employment, and having compensation halted upon securing new employment during the payout period.

The decision impacts stakeholders within these exempt categories by relieving them of insurance dues, simplifying regulatory compliance for specific employment types.

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Sharjah: Consultative Council Approves Draft Law on Court Fees

20/06/202520/06/2025
by Hannah Gutang

The Sharjah Consultative Council (SCC) has ratified the draft law on court fees following the submission and review by the Legislative and Legal Affairs Committee, and extensive studies and specialised meetings.

The decision was recorded at the SCC’s sixteenth session, following detailed discussions on each article. The law was referred to the council on 15 May 2024 by the Executive Council’s General Secretariat, integrating the framework set by Sharjah Law No. 7/2025 on the Judicial Authority Law, effective from 1 June 2025, which establishes an autonomous judicial authority in Sharjah.

The law covers court fee structures, collection methods, exemptions, and financial mechanisms, and aims to combine judicial efficiency with socio-economic factors.

It requires a balance between accurate fee structuring and litigants’ access to services, integrating electronic payment systems and facilitating documentation. The council’s approval promises increased transparency and improved financial procedures while reinforcing the interface between the judiciary and litigants.

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Saudi Arabia: Simplified Personal Financing Options for Residents

20/06/202520/06/2025
by Hannah Gutang

Nabad, 11 June 2025: The Saudi Central Bank introduced a micro-loan product offering up to SAR 20,000, repayable over three years with fixed instalments.

This financing option is designed for individuals who need quick access to funds without the burden of high monthly payments. The product does not require a salary transfer or a guarantor, making it accessible to a broader audience, including retirees.

The financing option is available to both Saudi citizens and residents, provided they are employed with a minimum salary of SAR 3,500. Applicants must be between 22 and 60 years old and have a good credit history. Retirees can also apply, subject to retirement age criteria. The required documents include a valid national ID or residency permit, a salary certificate from the employer, and a recent bank statement for the last three months.

The decision to offer this financing option impacts individuals seeking financial assistance without the complexities of traditional loans. It provides a flexible and accessible solution for those in need of immediate funds.

For the full story, click here.

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Qatar: Shura Council Approves Draft Law on Lost and Abandoned Property

20/06/202520/06/2025
by Hannah Gutang

Qatar Tribune, 17 June 2025: The Shura Council approved a draft law addressing the management of lost and abandoned property, advancing the legal framework for property handling in the state.

This proposed law, aimed at regulating the processes surrounding such property, has been crafted in its amended form alongside other legislative measures and forwarded to the esteemed government for further action.

The impacted parties include individuals and entities involved in property management, as well as government bodies responsible for implementation and enforcement. This legislation seeks to streamline legal procedures related to identifying, managing, and either returning or disposing of lost assets.

There will be new obligations for the respective governmental bodies to adopt mechanisms ensuring compliance with the new regulations, once it is enacted.

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Oman: Ministry of Transport Enforces Compliance Under New Maritime Law

19/06/202519/06/2025
by Hannah Gutang

The Arabian Stories, 16 June 2025: Oman’s Ministry of Transport, Communications, and Information Technology mandated compliance with Oman Sultani Decree No. 19/2023 for maritime shipping companies.

This law relates to companies involved in cargo agency, maritime shipping, and unloading brokerage, covering all facets of maritime transport services. This decision requires maritime shipping companies to adhere strictly to the provisions of this law, promoting transparency and maintaining service quality. The Ministry’s directive also emphasises that individuals seeking maritime shipping services should engage only with licensed companies, as detailed in an official directory available through the Ministry.

The directive prescribes obligations for the companies to ensure licensing and operational compliance.

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Kuwait: Central Bank Enhances Oversight on E-Payment Providers

19/06/202519/06/2025
by Hannah Gutang

Arab Times, 16 June 2025: The Central Bank of Kuwait (CBK) issued a comprehensive directive, tightening rules for electronic payment service providers to strengthen oversight and governance within the digital payments sector.

The regulatory circular, referring specifically to the existing framework supported by Article 85 of Kuwait Law No. 32/1968, aimed to increase operational oversight and enhance risk management for electronic payment service providers, electronic money institutions, and payment system operators in Kuwait.

The impacted parties include all entities involved in the provision of electronic payment services in Kuwait. Providers must ensure the accuracy and validity of documentation processed via the Electronic Payment Services Gateway System, with violations potentially incurring penalties under the law. Legal representatives or officially authorised personnel must manage submissions, with the CBK pre-emptively informed of any changes or authorisations.

Key legal requirements of the CBK’s Electronic Payment Business Regulations include adopting strict governance policies and enhanced oversight mechanisms. Providers must comply with Anti-Money Laundering and Counter-Terrorist Financing measures. Firms must inform the CBK of authorised user resignations and conduct annual reviews to ensure board members meet solvency and competence standards.

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Dubai: New Rule for Power of Attorney in Overseas Property Sales

19/06/202519/06/2025
by Hannah Gutang

Gulf News, 17 June 2025: Dubai authorities have issued new legal guidelines requiring overseas property investors to transact payments in their name, according to the title deed, when selling units in Dubai.

While earlier practices allowed power of attorney recipients to process payments, the new rule stipulates that cheques must be payable directly to the property owner as identified in the title deed.

This regulatory change impacts foreign property owners in Dubai who previously could designate relatives or third parties to receive sales proceeds. Under the new requirement, all monetary transactions for property sales must be directed to the bank account of the named title deed holder, eradicating the use of proxies for the financial aspect of sales. Furthermore, sellers are required to possess bank accounts within the UAE to process these transactions.

The obligation for property transactions emphasises the authentic identity of the seller, reducing chances of misrepresentation or fraud within the Dubai property market. This rule aligns with broader legal efforts to ensure clarity and straightforwardness in real estate dealings, demanding all PoA authorisations to be verified through Dubai’s local courts, which can now be conducted remotely, enhancing accessibility.

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Bahrain: Shura Panel Reviews Proposal to Cap Work Permits

19/06/202519/06/2025
by Hannah Gutang

The Daily Tribune, 16 June 2025: A draft amendment to Bahrain’s labour legislation has proposed instituting a fixed cap on work permits issuance, currently under review.

Bahrain is contemplating a significant modification to its labour law aimed at standardising the issue of work permits. The proposal, originally submitted by MPs from the elected chamber, calls for the establishment of a cap on the number of work permits that can be issued by the Labour Market Regulatory Authority (LMRA), subject to specification in the national plan. This marks a transition from discretionary authority to a mandated limit by the Labour Ministry, which would be applicable to all sectors and types of work.

The crux of the debate focused on whether instituting a fixed limit would promote market regulation or introduce unwarranted constraints. Committee members have been considering hypothetical scenarios on the operational impact of these limits and their potential effects on existing permit management processes.

The move would require parties involved—including the Labour Ministry and LMRA—to adhere to the prescribed cap upon approval, with immediate effect once incorporated into the legal framework.

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Abu Dhabi: Real Estate Regulations Update

19/06/202519/06/2025
by Hannah Gutang

The Department of Municipalities and Transport (DMT) of Abu Dhabi recently announced updates to the regulatory framework governing the emirate’s real estate sector.

A key component of this update is the enhancement of regulatory mechanisms and the empowerment of the Abu Dhabi Real Estate Centre to supervise the sector. This involves establishing clear legal and contractual frameworks that balance relationships among various stakeholders and safeguard their rights.

The comprehensive legal framework has been designed to ensure the long-term sustainability of jointly owned properties and common areas within development projects. It regulates professions related to the real estate sector to guarantee effective market governance and protect investor interests. There is a new definition of real estate activities, encompassing development, sale, purchase, registration, evaluation, management, and operation, thereby standardising and enhancing transparency across the sector.

Significant changes include provisions allowing developers to terminate off-plan sale and purchase agreements unilaterally if buyers fail to meet obligations, provided procedural compliance is met to secure ADREC approval. This adjustment aims to mitigate disputes, improve market dynamism, and reduce investment risks by streamlining resolution processes outside of court or arbitration.

Furthermore, the concept of Owners’ Committees has replaced Owners’ Associations, with their governance subject to decisions from the DMT Chairman, focusing on advisory roles. Management companies are tasked with operational responsibilities, ensuring the sustainability and effective management of shared facilities and common areas.

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Lexis Middle East Gulf Tax – Summer 2025 Edition

16/06/202519/06/2025
by Tanya Jain

Brought to You by Tolley+ Middle East

The Summer 2025 Edition of Lexis Middle East Gulf Tax brings readers a sharp and timely exploration of evolving tax regulations and practices across the GCC region. This issue is rich with expert insights, legislative updates, and practical guidance for tax professionals navigating an increasingly complex landscape.

FEATURE: WITHHOLDING TAX: YOU NEED TO KNOW

Shiraz Khan and Richard Ferrand from Al Tamimi & Co. delve into Saudi Arabia’s evolving position on Withholding Tax (WHT). The article explains the latest ZATCA (Zakat, Tax and Customs Authority) clarifications surrounding WHT benefits and how entities can apply for these incentives. It is an essential read for taxpayers and advisors managing cross-border payments and seeking certainty in compliance.

FEATURE: ADVANCES IN TRANSFER PRICING

Zain Satardien and Aakriti Sharma of Hourani and Partners provide an authoritative overview of recent ZATCA developments regarding Advance Pricing Agreements (APAs). Their analysis highlights how Saudi tax authorities are refining their transfer pricing approach to offer greater predictability for multinational enterprises operating in the Kingdom.

TAX NEWS ROUND-UP

A comprehensive digest of reent tax treaty updates and regulatory shifts across the Gulf. This section is a must-read for professionals seeking to stay abreast of strategic tax changes and how they may affect operations across multiple jurisdictions.

PRACTICAL FOCUS: FOCUS ON NATURAL RESOURCES

This piece by Baqar Palavandishvili of Galadari Advocates & Legal Consultants examines the implications of Sharjah Law No. 3/2025, a landmark reform introducing a corporate tax regime for extractive and non-extractive natural resource companies. The article breaks down the scope, compliance expectations, and what it means for businesses involved in energy and resource sectors.

TAX PROFESSIONAL PROFILE: TAKING A MORE FLEXIBLE APPROACH

In a candid interview, Illyana Panova, Global Tax Director for a Family Office, reflects on her experience as the first UAE-based tax expert to join the fractional executive community. She shares insights on adopting a flexible work model, lessons learned from leading global tax strategies, and how the regional tax landscape is evolving to accommodate non-traditional executive roles.

ANY QUESTIONS? WHAT’S DUBAI EXECUTIVE COUNCIL DECISION NO. 11/2025’S TAX IMPACT?

Andre Anthony and Adelina Frunza of CMS explore the tax implications of this new Dubai freezone regulation. Their article dissects the operational and strategic impact of Decision No. 11/2025 on freezone entities, offering clarity on potential challenges and planning opportunities for affected businesses.

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Lexis Middle East Gulf Tax_Summer 2025

Have you read the Lexis® Middle East Gulf Tax – Past editions? Click the links below to access them.

Lexis Middle East Gulf Tax | Spring 2025

Lexis Middle East Gulf Tax | Autumn 2024

Lexis Middle East Gulf Tax | Summer 2024